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Customs shipping
NMIMS Global Access
School for Continuing Education (NGA-SCE)
1. You have imported 1 x 40’ container by sea. Transporters have called for a strike after 2 days. You do not have sufficient funds to pay the customs duty in 2 days. Your company does not want to pay detention or demurrage for the consignment. What is your suggestion to the management to clear this consignment from Port without payment of duty? Please explain the procedure in detail.
Answer: Custom is a tariff or tax which is collected by the custom authority on exported or imported goods according to current custom laws. In order to enter or leave a country it is mandatory for the goods to pass through custom’s procedure. It is the documented permission given by the national customs authority to imported goods so that they can enter the country or to exported goods so that they can leave the country. The persons and institutions that are authorized to perform custom clearance operation are called custom’s consultants. There is a certain set of procedures for custom clearance of import and export cargo which is followed by the countries across the
2. Due to Lockdown by the Government you could not clear your consignment received by air. Your company informs you that the goods would have got damaged completely and will not be useful. They advise you to file an insurance claim with the insurance company as soon as the lockdown is lifted. What are the documents will you keep ready to send to insurance company to file the claim.
Answer: Air cargo insurance is a type of policy that protects a buyer or seller of goods being transported through the air. It reimburses the insured for items that are damaged, destroyed or lost. Some insurance companies offer cargo insurance directly, as do several freight forwarders and trade-service intermediaries. The amount of coverage and deductible required for air cargo insurance varies based on the goods, as well as the individual provider.
The exporter faces the risk of loss/damage to the goods during transportation from his place to the place of the buyer. This is known as cargo risk. In international trade the transit distance and period
3. Due to the outbreak of Corona virus huge stocks for export got stuck in your factory and your importer from U S is advising you to send the entire consignment at one go as soon as the sea opens up. The entire consignment has to go to U S only. As you know you will not get booking as every exporter will throng the shipping lines to book their consignments and you will have to send as multiple exports. Your company suggests to hire a ship directly to send all the goods at one go.
a. Which charter system will you select
b. Explain the reasons for your selection
Answer: a) Logistics is viewed as the competency that links an enterprise with its customers and suppliers. Thus, the process is viewed in terms of two interrelated efforts, inventory flow and information flow. Globalisation and advancement in information technology have added new dimensions to logistics operations. The need to carry the goods physically from one country to another has highlighted the importance of a logistics system. The longer the distance to be travelled, the higher is the efficiency demanded of a logistics system. Integrated logistics, which takes into Dear students, get fully solved assignments by professionals
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